I used to use a Cycling Specifix wax lube that really had to be applied to a clean chain- which I used to clean after every ride so no problem- and worked into the chain. This was fine but the chain used to run dry after 2 hours. I now use Pedros Lubes. "SYNLUBE" for the winter and wet rides as it stays on the chain and does not get washed off- and "DRY LUBE" in the summer where there is no rain to wash it off and does not collect dust as it is a dry lube. I can now do 4 hour rides and still have an oily chain at the end- Unless it is offroad and then we relube after 2 hours.

Now the best chain oil I ever used was called "BlackGold" That was fantastic but apply liberally and then wipe off. It was so sticky that any thrown off the chain would stick. On the wheels- the frame and on you. It was messy but the most fantastic chain oil made. BlackGold Grease is still available and is the best wheel bearing and headset grease available, if you can find it.